Live
- NASA Tracks Five Giant Asteroids on Close Approach to Earth Today
- Pushpa 2 Hits ₹1000 Crore in 6 Days: How It Compares to Other Top Indian Films
- Vivo X200 and X200 Pro Launched in India: Price, Specifications, and Features
- Nitin Gadkari Admits Feeling Embarrassed at Global Summits Over Rising Road Accidents in India
- Comprehensive Review on Indiramma Housing Survey and Welfare Initiatives Conducted via Video Conference
- Jogulamba Temple Records Rs 1.06 Crore Hundi Revenue in 150 Days
- Opposition Slams ‘One Nation, One Election’ Bill as Anti-Democratic; BJP Allies Support the Move
- Celebrate Karthigai Maha Deepam Virtually with Sri Mandir’s LIVE Darshan Experience
- BJP Extends Support to Samagra Shiksha Abhiyan Employees' Strike, Demands Immediate Regularization and Welfare Benefits
- Dr. M. Priyanka Stresses Quality Education, Nutritious Meals, and Cleanliness in Schools
Boom in hospitality industry
With the city playing host to major events of the State, the hospitality industry in the capital region has got the much needed thrust. The increase in frequency of VVIPs’ visit to Vijayawada has resulted in a 12 per cent increase in the occupancy rate in city star hotels. Industrialists and businessmen from Delhi, Kolkata,
City hotels register 12% rise in occupancy rate
With the city playing host to major events of the State, the hospitality industry in the capital region has got the much needed thrust. The increase in frequency of VVIPs’ visit to Vijayawada has resulted in a 12 per cent increase in the occupancy rate in city star hotels. Industrialists and businessmen from Delhi, Kolkata, Mumbai, Chennai, Bengaluru and other major metros of the country have also started frequenting Vijayawada to explore new avenues in the capital region contributing to the growth of hotel industry.
Earlier, foreigners used to come to the city to take part in missionary activities and social service programmes. Now, officials of several foreign companies and consultancies are visiting the capital region for conducting development studies and surveys after the State government unveiled its plans of constructing a grandiose capital for Andhra Pradesh.
A couple of hotel management colleges are already functioning in the city to meet the requirements of the growing hospitality sector. Development of hospitality industry is a welcome sign as it helps generate employment for local youth. Speaking on the growth prospects of hotel industry, Fortune Murali Park general manager Sujith Chamukutty said, “There has been a definite increase in the occupancy rate in city hotels post bifurcation. The rate of growth may be 10 to 12 per cent.
The hotel industry is really doing well now. But it does not mean that it is peaking as it takes more time.” Vijayawada Hotels’ Association president Ilapuram Raja said, “It is happy to note that the hotel industry is witnessing growth. The occupancy rate in city hotels which rose by 12 per cent, will increase further in the coming six months. However, it may take another four years to see a real boom.”
Meanwhile, hotel majors Novotel, Radisson, Hyatt and Marriott are planning to come up with new ventures to tap the growth potential of hospitality industry in the capital region. It is learnt that Novotel already has plans to set up a star hotel with 220 rooms at Bharati Nagar and the project is likely to be completed in another three to four years. Some local business tycoons are also contemplating venturing into the hotel industry anticipating a hospitality boom in the fast emerging metropolis of Andhra Pradesh.
